Average spot cotton quotations were 134 points higher than the previous week, according to the USDA, Agricultural Marketing Service’s Cotton Program. Quotations for the base quality of cotton (color 41, leaf 4, staple 34, mike 35-36 and 43-49, strength 27.0-28.9, uniformity 81.0-81.9) in the seven designated markets averaged 81.03 cents per pound for the week ended Thursday, January 2, 2014.
The weekly average was up from 79.69 cents last week and 70.94 cents reported the corresponding period a year ago. Daily average quotations ranged from a high of 81.40 cents on Monday, December 30 to a low of 80.42 cents on Thursday, January 2. Spot transactions reported in the Daily Spot Cotton Quotations for the week ended January 2, totaled 73,168 bales. This compares to 36,813 bales last week and 40,902 bales reported a year ago. Total spot transactions for the season were 716,418 bales, compared to 1,023,767 bales the corresponding week a year ago.
The ICE March settlement prices ended the week at 84.04 cents, compared to 82.89 cents last week. Prices are in effect from January 3-9, 2014 Adjustment World Price (AWP) 68.09 ELS Competitiveness Payment 0.00 Loan Deficiency Payment (LDP) 0.00 Fine Count Adjustment 2012 Crop 0.94 Coarse Count Adjustment (CCA) 0.00 Fine Count Adjustment 2013 Crop 1.09 Source: Farm Service Agency, FSA, USDA